Australia's Brookside Energy rises after announcing share buyback

Brookside Energy

07/07/2025 03:47

** Shares of Brookside Energy BRK.AX rise as much as 9% to A$0.425, logging their biggest intraday pct gain since November 8, 2024

** Stock hits highest since June 23

** Oil and gas projects developer announced its intention to buy back up to 4.8 million shares or 5% of its issued capital for A$0.40 per share

** Says total cost of buy back to be about A$1.9 mln ($1.24 mln)

** Buy back price represents a 2.6% premium to last close

** Stock down 3.5% YTD

($1 = 1.5333 Australian dollars)

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com;))